City Office REIT (CIO) shares soared 24.1% in the last trading session to close at $6.9. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.5% gain over the past four weeks.The increased investor optimism in the stock can be attributed to the recent announcement from City Office of entering into a definitive merger agreement with MCME Carell Holdings, LP and MCME Carell Holdings, LLC, under which MCME Carell will acquire all of th ...

NEW YORK, July 24, 2025 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:City Office REIT, Inc. (NYSE: CIO)'s sale to MCME Carell Holdings, LP and MCME Carell Holdings, LLC for $7.00 per share in cash. If you are a City Office shareholder, click here to learn more about your legal rights and options.Colony Bankcorp, Inc. (NYSE: CBAN)'s ...

Core Viewpoint - City Office REIT, Inc. has entered into a definitive merger agreement with MCME Carell Holdings, under which MCME Carell will acquire all outstanding shares of City Office for $7.00 per share in cash, valuing the transaction at approximately $1.1 billion [1][2][3]. Transaction Details - The transaction price of $7.00 per share represents a 26% premium to City Office's closing share price on the NYSE prior to the announcement and a 39% premium to the volume weighted average share price over the previous 90 days [2]. - Holders of City Office's 6.625% Series A Cumulative Preferred Stock will receive $25.00 per share in cash, plus all accrued and unpaid distributions up to the date of transaction consummation [2]. - The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including shareholder approval [4]. Company Actions - City Office will pay its previously announced second quarter dividend but has resolved to suspend future common stock dividend payments until the transaction closes [5]. - Upon completion of the transaction, City Office will become a private company, and its shares will no longer trade on the NYSE [6]. Company Background - City Office REIT is focused on acquiring, owning, and operating office properties primarily in Sun Belt markets, currently owning or controlling 5.4 million square feet of office properties [8][9]. - MCME Carell is affiliated with Elliott Investment Management and Morning Calm Management, managing approximately $72.7 billion in assets [10].

Group 1 - City Office REIT, Inc. will release its financial results for the quarter ended June 30, 2025, before the market opens on July 31, 2025 [1] - A conference call will be held at 11:00 am Eastern Time on July 31, 2025, to discuss the financial results [2] - A supplemental financial package will be available on the company's website to accompany the discussion [2] Group 2 - City Office REIT is focused on acquiring, owning, and operating office properties primarily in Sun Belt markets [6] - The company currently owns or has a controlling interest in 5.4 million square feet of office properties [6] - City Office has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes [6]

Core Insights - The article emphasizes the importance of value investing, highlighting the identification of undervalued companies through fundamental analysis and metrics [2][8] - It introduces Zacks' Style Scores system, which helps investors find stocks with specific traits, particularly those with high grades in the Value category [3] Company Analysis - Braemar Hotels & Resorts (BHR) has a Zacks Rank of 1 (Strong Buy) and an A grade for Value, with a Forward P/E ratio of 5.41, significantly lower than the industry average of 15.75 [4] - BHR's P/B ratio is 0.71, compared to the industry's average P/B of 1.80, indicating it is undervalued [5] - City Office REIT (CIO) holds a Zacks Rank of 2 (Buy) and an A grade for Value, with a Forward P/E ratio of 4.87 and a PEG ratio of 0.81, both favorable compared to the industry averages [6] - CIO's P/B ratio is 0.36, also lower than the industry's average P/B of 1.80, suggesting it is undervalued [7] Investment Outlook - Both BHR and CIO are highlighted as strong value stocks, likely undervalued based on their earnings outlook and valuation metrics [8]

Core Viewpoint - Investors in the REIT and Equity Trust - Other sector should consider City Office REIT (CIO) and Omega Healthcare Investors (OHI) as potential undervalued stocks [1] Valuation Metrics - Both CIO and OHI currently hold a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and improving earnings outlooks [3] - CIO has a forward P/E ratio of 4.86, while OHI has a forward P/E of 12.14, suggesting that CIO may be more undervalued [5] - The PEG ratio for CIO is 0.81, compared to OHI's PEG ratio of 2.08, indicating that CIO has a better expected EPS growth relative to its valuation [5] - CIO's P/B ratio is 0.36, significantly lower than OHI's P/B of 2.15, further supporting the argument that CIO is undervalued [6] - Based on these valuation metrics, CIO earns a Value grade of A, while OHI receives a Value grade of C, highlighting CIO as the superior value option [6][7]

City Office REIT (CIO) Q1 2025 Earnings Call May 02, 2025 11:00 AM ET Company Participants Anthony Maretic - CFO, Secretary & TreasurerJames Farrar - CEO & DirectorCraig Kucera - MD - Equity Research Conference Call Participants Upal Rana - Senior Equity Research Analyst - US REITs Operator Good morning, and welcome to the Citi Office REIT First Quarter twenty twenty five Earnings Conference Call. As a reminder, this conference call is being recorded. It is now my pleasure to introduce you to Tony Maratik, ...

Financial Data and Key Metrics Changes - The company's net operating income (NOI) for the first quarter was $26 million, which is $500,000 higher than the previous quarter, driven by higher revenue and lower operating expenses [15] - Core funds from operations (FFO) were reported at $12.3 million or $0.30 per share, an increase of $600,000 from the previous quarter [15] - Adjusted funds from operations (AFFO) were $6.5 million or $0.16 per share, with no significant impacts from tenant improvements or leasing commissions [16] - Same store cash NOI increased by 4.4% or $1.1 million compared to the first quarter of 2024 [16] Business Line Data and Key Metrics Changes - The company completed 144,000 square feet of new and renewal leasing in the first quarter, with the largest lease being a 34,000 square foot new lease at the Papago Tech property in Phoenix [11] - The Greenwood Boulevard property in Orlando was fully leased to a single tenant, with a new 66,000 square foot tenant set to take occupancy later this year [12] - The overall portfolio occupancy ended the quarter at 84.9%, slightly lower than the previous quarter, with expectations of a decrease in the second quarter due to tenant downsizing [17] Market Data and Key Metrics Changes - Nationally, office leasing volume was 15% higher than a year ago, with JLL estimating that it has returned to approximately 89% of pre-pandemic levels [10] - Higher quality office spaces in Sunbelt markets continue to outperform, with significant leasing activity noted in Phoenix [10][41] Company Strategy and Development Direction - The company is focused on the redevelopment of its City Center property in downtown St. Petersburg, Florida, into a luxury residential condominium and mixed-use tower [5] - An agreement was made with Property Markets Group to lead the development, with expectations of significant long-term value creation [7] - The company is strategically investing in Sunbelt markets, where it sees the most value, while avoiding capital investments in underperforming markets like Portland [40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the overall office real estate fundamentals and the positive trends in leasing activity [10] - The company anticipates occupancy will dip in the short term but expects to recover by year-end as signed leases take occupancy [31] - Management is confident in achieving year-end occupancy within the original guidance range of 85% to 87% [18] Other Important Information - Total debt as of March 31 was $646 million, with a net debt to EBITDA ratio of 6.7 times [18] - The company has approximately $42 million undrawn on its credit facility, which matures in November 2025 [19] - Two property debt maturities are scheduled for 2025, with ongoing discussions for extensions [21] Q&A Session Summary Question: How did the new development project come about? - The project was initiated two years ago, recognizing the strong market in Downtown St. Petersburg, leading to a well-structured agreement with PMG [23][24] Question: What is the timing for the project? - Presales are expected to commence soon, with a projected timeline of about one year for presales and three years for construction, totaling approximately four years for the full project [26] Question: Will there be any disruption to existing tenants during the redevelopment? - Alternative parking arrangements are being made for tenants, and they have been kept informed about the changes [27] Question: What is the pace of occupancy expected this year? - The company has 143,000 square feet of leases that have yet to take occupancy, which will contribute to occupancy levels in the coming quarters [30] Question: Will there be any vacancy at Greenwood Boulevard? - There will be a temporary dip in occupancy due to tenant downsizing, but it is expected to return to 100% occupancy before the end of the year [36] Question: How are the top Sunbelt markets performing, particularly Phoenix? - The company is seeing strong performance in Phoenix, with significant leasing activity contributing to overall positive cash spreads [40][41]

分组1 - City Office REIT (CIO) reported quarterly funds from operations (FFO) of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.28 per share, but down from $0.33 per share a year ago, indicating a 7.14% FFO surprise [1] - The company posted revenues of $42.26 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.15%, but down from $44.49 million year-over-year [2] - City Office REIT has surpassed consensus FFO estimates only once in the last four quarters, while it has topped consensus revenue estimates two times in the same period [2] 分组2 - The stock has underperformed the market, with shares losing about 4.9% since the beginning of the year compared to the S&P 500's decline of 4.7% [3] - The current consensus FFO estimate for the upcoming quarter is $0.27 on revenues of $42.43 million, and for the current fiscal year, it is $1.11 on revenues of $171.62 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the bottom 35% of over 250 Zacks industries, indicating potential challenges for the sector [8]

I N V E S T O R P R E S E NTATION M A Y 2 0 2 5 N Y S E: CIO FORWARD-LOOKING STATEMENTS The Terraces, Dallas Bloc 83, Raleigh Block 23, Phoenix Note: All information as of March 31, 2025 (1) Percentages based on management's estimate of aggregate gross asset value in each market 3 This presentation contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward looking statements within the meaning of Section 27A of the S ...